Outlook: Indian rupee likely seen higher to US dollar, RBI monetary policy review meet key

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The Indian rupee is seen opening at about 62 and moving in a band of 61.50 to 62.50 in volatile trade. The Indian rupee is seen opening at about 62 and moving in a band of 61.50 to 62.50 in volatile trade.
SummaryIndian rupee is seen edging up and will be in a narrow range ahead of RBI monetary policy review meet.

Indian rupee, which closed at 61.77/78 on Thursday to the US dollar, at a near 5-week low, is seen edging up and will be in a narrow range ahead of the RBI monetary policy review meet.

The Indian rupee is seen opening at about 62 and moving in a band of 61.50 to 62.50 in volatile trade.

The US Federal Reserve's decision to press ahead with its asset-buying gives India's battered rupee a reprieve and creates space at a policy review on Friday for its Reserve bank of India (RBI) to scale back some of the measures put in place to support the currency.

Asian currencies were mixed compared to the dollar.

Asian shares paused on Friday as investors sat back to ponder the US Federal Reserve's policy outlook, a day after the world's most powerful central bank triggered a global rally in riskier asset markets with an unexpected decision to maintain its stimulus program.

Nifty India stock futures traded in Singapore 0.23 percent lower.

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